News reports today point to the difficult first days of the implementation of the GATT valorization system by the Department of Customs. News reports say that customs clearings that normally take 24 hours have suffered 72 hour delays. The GATT valorization system went into effect on 1 July. It establishes that taxes will be levied on the transaction value of the purchase, instead of on pre-agreed values. Reportedly, Customs clerks are still learning the new system. New computerized systems have been said to be down adding to the delays.
